Bank Loan & Housing Mortgage Calculator • බැංකු ණය සහ නිවාස ණය කැල්කියුලේටරය
Calculate Sri Lanka bank loan monthly installments (EMI), housing mortgages, reducing balance vs flat APR, 0.1% stamp duty, and extra prepayment savings across BOC, Commercial Bank, Sampath, and HNB.
ණය මුදල සහ කොන්දේසි (Loan Amount & Terms)
Enter your required loan amount, interest rate, and repayment duration
Paying an extra amount each month directly lowers your loan principal and eliminates compound interest.
මාසික වාරිකය (Monthly Installment / EMI)
15 Years (180 Installments) @ 11.5% Reducing Rate
ශ්රී ලංකාවේ බැංකු ණය සහ නිවාස ණය පිළිබඳ සම්පූර්ණ මඟපෙන්වීම (Sri Lanka Bank Loan Guide)
Essential guidelines for borrowers in Sri Lanka regarding interest calculation methods, CBSL regulations, and minimizing mortgage costs.
1. Reducing Balance vs Flat Rate
Always ask your bank whether a quoted rate is reducing or flat. In reducing balance loans, interest is charged only on the remaining balance. A 7% flat rate actually equals ~13% reducing APR!
2. Prepayment Strategy
Even a small additional monthly contribution (e.g. Rs. 10,000 extra) or annual bonus lump-sum payment goes 100% towards lowering your principal, shaving years and millions of rupees off long-term mortgages.
3. Stamp Duty & Bank Fees
In Sri Lanka, legal loan agreements are subject to statutory Stamp Duty of 0.1% (Rs. 1 per Rs. 1,000). Banks also charge one-time documentation and title search fees ranging from Rs. 15,000 to Rs. 35,000.